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HiQ HELPS ZENUITY TO DEVELOP AUTONOMOUS VEHICLES

HiQ has been chosen to assist Zenuity AB in developing and optimising software for its driver-assistance and autonomous driving systems. Zenuity has signed a strategic framework agreement with HiQ. “Zenuity is a tremendously exciting new player in the automotive industry. It is a company that shares HiQ’s enthusiasm for taking a leading role in pioneering technological development”, says Jerker Lindstén, Managing Director of HiQ Gothenburg.

Under the terms of the framework agreement, which runs until further notice, HiQ is responsible for all procurement relating to software development and IT.

“As a Nordic leader in the field of software development, we are justifiably proud to have been selected from among a large number of potential suppliers. We are looking forward to contributing our far-reaching competence and extensive experience in software development and vehicle technology to develop Zenuity’s business and make life simpler, both for the company’s co-workers and its end customers”, says Jerker Lindstén, Managing Director of HiQ Gothenburg.

Zenuity is a newly started company with roots in two globally recognised names from the automotive cluster in the west of Sweden. Volvo Car Group and Autoliv are each contributing expert knowledge and patents to the enterprise. Autoliv provides expertise in on-board components such as cameras and radar systems, while Volvo Cars has a track record of excellence in integrating solutions into vehicle design.

Jerker Lindstén
Jerker Lindstén Managing Director HiQ Gothenburg +46 76 880 06 00
Erik Ridman
Erik Ridman Head of Communications HiQ +46 70-750 80 60 +46 8-588 90 000

Increased profit and strong cash flow for HiQ

Sales for the first half of the year increase to SEK 965.5 million. Operating profit for the same period increases to SEK 121.4 million. In the second quarter of the year, sales increase to SEK 477.2 million. Cash flow for the first half of the year amounts to SEK 137.3 million and liquid assets total SEK 110.3 million. This means that our financial position remains strong. During the quarter, as announced earlier, we divested our holding in Westend Affärscentrum Oy, which is our former office space in Finland. The divestment generated a profit of SEK 22.8 million.

“As usual, the second quarter is seasonally weak with extra days off and leave. This year even more challenging compared to last year’s second quarter, with significantly less time. All in all, the first half of the year we deliver strong earnings in Finland, while in Sweden we do not live up to our expectations. To some extent, developments in Sweden were affected by weaker demand from the public sector and locally in the telecom sector in Blekinge,” says Lars Stugemo, President and CEO of HiQ. 

Invitation to the presentation of HiQ’s interim report at 9.00 a.m. on 16 July

HiQ‘s interim report for January-June 2019 will be presented at 9.00 a.m. on Tuesday 16 July at HiQ’s 7th floor office at Katarinavägen 15 in Stockholm.

Change in number of outstanding shares in HiQ during June

As of 28 June 2019 the number of outstanding shares and votes in HiQ International AB amount to 55 842 087 shares, following an increase of the number of shares and votes in June by 2 500.
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